Asian ethylene prices remain stable on Monday

Despite firmer upstream crude and naphtha values, ethylene prices on Monday were assessed flat across Asia. Buying trends were dull amid tight regional product availability.

CFR North East Asia prices of ethylene were assessed flat at the USD 1065/mt levels. Buying interest were heard at the USD 1050/mt CFR North East Asia levels.

CFR South East Asia prices were assessed steady at the USD 1085/mt levels.

In the downstream markets, HDPE film prices were at the USD 1040/mt CFR Far East Asia levels while LLDPE film prices were at the USD 1035/mt levels CFR Far East Asia levels, both unchanged week on week. LDPE film prices were assessed steady from last week at the USD 1050/mt CFR Far East Asia levels.

In plant news, CPC has shut its No.4 cracker for a maintenance turnaround on December 11, 2015. The turnaround is likely to last for around 50-55 days. Located in Linyuan, Taiwan, the cracker has an ethylene production capacity of 380,000 mt/year and propylene capacity of 193,000 mt/year.

In other plant news, Shell declared force majeure on supplies of ethylene and propylene from its Singapore cracker, early December 2015. The cracker was shut in end-November 2015 owing to technical issues. located at Pulau Bukom, Singapore, the cracker has an ethylene production capacity of 960,000 mt/year and propylene capacity of 540,000 mt/year.

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Propylene prices edge higher in Asia

Propylene prices were assessed higher in Asia last week.

Prices gained on the back of constrained product avails due to several planned and unplanned regional plant outages.

FOB Korea propylene prices were assessed at the USD 585/mt levels while CFR China prices of propylene were assessed at the USD 625/mt levels, both up USD 10/mt from the previous week. CFR Taiwan prices of propylene were higher at the USD 625/mt levels.

CFR South East Asia prices of propylene were assessed up at the USD 655/mt levels, a week on week rise of USD 5/mt.

In plant news, Shell declared force majeure on supplies of ethylene and propylene from its Singapore cracker, early December 2015. The cracker was shut in end-November 2015 owing to technical issues. located at Pulau Bukom, Singapore, the cracker has an ethylene production capacity of 960,000 mt/year and propylene capacity of 540,000 mt/year.

In other plant news, CPC has shut its cracker on December 11, 2015 for a maintenance turnaround. The cracker is expected to remain shut for around 50-55 days. Located in Linyuan, Taiwan, the cracker has an ethylene production capacity of 380,000 mt/year and propylene capacity of 193,000 mt/year.

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MEG buying improves in Asia

Reports of a lift in regional buying sentiments pushed MEG prices in Asia higher last week.

Gains recorded in fellow polyester feedstock PTA values further supported the price rise.

CFR China prices of MEG prices were assessed up at the USD 580/mt levels, a sharp week on week rise of USD 15/mt.

CFR South East Asia prices were at the USD 585/mt levels, a gain of USD 15/mt from the previous week.

In China, domestic prices were higher at the Yuan 4560/mt levels.

Feedstock ethylene prices on Friday were assessed at the USD 1065/mt CFR North East Asia levels while CFR South East Asia prices of ethylene were assessed at the USD 1085/mt levels, both unchanged week on week.

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Crude oil prices gain on Wednesday

Crude oil prices gained on Wednesday on the back of a decline in US crude and distillate inventories.

A crude oil trader informed that prices increased as the weekly fuel inventory report brought out by the US-based Energy Information Administration (EIA) for the week ended December 18, 2015 stated that crude oil inventories declined by 5.88 million barrels to 484.8 million barrels while distillate inventories comprising heating oil and diesel dropped by 700,000 barrels. However, gasoline inventories gained by 1.1 million barrels.

The rise in prices was also on the back of information brought out by oilfield services company Baker Hughes Inc., which stated that the number of rigs used for oil exploration declined by 3 to 538 this week.

Nymex crude futures traded higher at USD 37.50/barrel while Dated Brent prices were up at USD 37.36/barrel. WTI Cushing prices were higher at USD 37.50/barrel.

Crude_23Dec2015

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Crude oil prices end mixed on Monday

Crude oil prices displayed a mixed undertone on Monday on account of a fall in the value of the US dollar on the one hand and reports of an increase in drilling activity for oil exploration in the US, on the other.

A crude oil trader informed that Nymex crude prices gained as the US dollar declined to 1.0925 per euro. A fall in the US greenback prompts investors to increase their stakes in dollar-denominated commodities like crude, therefore sending prices higher.

The decline in Brent crude prices was on the back of information brought out by oilfield services company Baker Hughes Inc., which stated that the number of rigs used for oil exploration increased by 17 to 541 last week.

Nymex crude futures traded higher at USD 34.74/barrel while Dated Brent prices were down at USD 36.35/barrel. WTI Cushing prices were higher at USD 34.74/barrel.Crude_11Dec2015

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Methanol prices witness a sharp fall in Europe

Methanol prices plunged in Europe last week. Prices drifted sharply lower on the back of a bearish upstream upstream crude values coupled with softening buying trends in the region ahead of the yearend holidays.

Supporting the price fall was weaker methanol values in Asia and the US.

On Friday, prices of methanol were assessed lower at the Euro 203.50/mt FOB Rotterdam levels, a sharp week on week decline of Euro 13.50/mt.

In Asia, prices of methanol on Friday were assessed at the USD 202/mt CFR China levels, a plunge of USD 20/mt from the previous week. In the US, methanol prices last Friday were at the 62.50-63.00 cents/gallon FOB US Gulf mark, a fall of 0.50 cent/gallon.

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PX prices decline 20$ in Asia

PX prices last week in Asia dropped. The price fall came on the back of softer crude prices and a decline in upstream Isomer MX values. The approaching Christmas holiday season supported the price fall as did softer regional buying trends.

A week on week drop in downstream PTA values further pulled prices lower in Asia.

On Friday, prices of PX were assessed at the USD 730/mt FOB Korea levels, a drop of USD 20/mt from the previous week.

CFR Taiwan prices of PX were assessed at the USD 750/mt levels, a week on week decline of USD 20/mt. CFR South East Asia prices of PX were at the USD 750/mt levels, down USD 20/mt from the previous week.

Feedstock Isomer MX prices on Friday were at the USD 630/mt FOB Korea levels, a week on week fall of USD 15/mt.

Downstream PTA prices on Friday were lower at the USD 560/mt CFR China levels, a decline of USD 10/mt from the previous week.

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